From Smh.com.au: NSW public sector superannuation fund First State Super and Victoria's Health Super have agreed to merge to create a fund worth more than $28 billion. Due diligence is under way after the two funds signed a heads of agreement, with a targeted merge date of June next year.
If successful, the merger will see the creation of a fund with more than $28 billion in funds under management and about 750,000 members, making it one of the five largest super funds in Australia..............................................Full Article: Source